Inventory management system and vendor management inventory are two terms describing the same inventory control strategy – having a trusted vendor manage the inventory level for regularly used products. Instead of having to continually issue purchase orders or manually place orders, a manufacturer or other consumer of system components, fasteners, and other products would determine the level of inventory they’d like maintained and then turn that responsibility over to a vendor such as Electronic Fasteners.
Here at Electronic Fasteners, we offer an inventory management system, or vendor management inventory (VMI), as we call it. We provide a comprehensive inventory management service for which we set up minimum and maximum product quantities to be maintained for each customer item, based on an item usage report. Each item under inventory management receives a barcode that is entered into our Waltham, Massachusetts vendor management inventory or inventory management system. A team of inventory control specialists from Electronic Fasteners is on the road regularly, checking customer inventories for reorder through our inventory management system.
Our inventory management system is highly popular with customers who need to refill inventories on a regular basis. Our vendor management inventory is a cost-efficient, highly effective system that saves customers time and money while enabling their employees to focus on tasks other than checking, ordering, and restocking items. We even provide regular, real-time usage reports to keep customers apprised of current inventory levels, enabling them to anticipate when and how much additional inventory they may need to order to meet seasonal or contract demands, keeping the flow of needed products uninterrupted and avoiding costly production delays.
To learn more about an inventory management system for your company, contact our vendor management inventory specialists who can schedule a usage analysis.